Scansource Stock Price, News & Analysis

ScanSource, Inc. (SCSC) reported a 17% increase in net sales for Q2 FY23, reaching $1.01 billion, alongside a 7.1% rise in gross profit to $115.3 million. Operating income surged 25.2% to $39.4 million, while GAAP net income rose 11.2% to $25.7 million, leading to a diluted EPS of $1.01. The company also reported a 14.7% growth in Adjusted EBITDA, totaling $48.8 million. ScanSource has raised its full fiscal year 2023 outlook, now forecasting net sales growth of at least 6.5% and Adjusted EBITDA of at least $176 million.

ScanSource, Inc. (NASDAQ: SCSC) will release its second quarter fiscal year 2023 results for the period ending December 31, 2022 on February 7, 2023, at approximately 8:30 a.m. ET. The management team will host an earnings conference call at 10:30 a.m. ET that same day to discuss the financial results. Investors can access the call via the webcast available in the Investor Relations section of ScanSource's website. A replay will be available for 60 days. ScanSource is a hybrid distributor specializing in connecting devices to the cloud and has been recognized as one of the best places to work and one of the world’s most admired companies in 2022.

Delta Apparel, Inc. (NYSE American: DLA) announced the reappointment of Justin Grow as Executive Vice President & Chief Administrative Officer. He will collaborate with CEO Bob Humphreys and the Board on strategic initiatives and oversee key functions including legal and human resources. Grow's leadership is expected to enhance corporate growth, drawing on his extensive experience, including his previous role with Delta Apparel. The company continues to thrive in the activewear and digital print market, employing around 8,600 worldwide.

ScanSource, Inc. (NASDAQ: SCSC) will present at the Raymond James Technology Investors Conference in New York City on December 6, 2022, at 9:10 a.m. Eastern Time. The presentation will feature Mike Baur, CEO, and Steve Jones, CFO. Investors can view the live webcast and a replay available for 30 days on www.scansource.com. ScanSource specializes in connecting devices to the cloud, offering solutions in hardware, SaaS, and more, and ranks #773 on the Fortune 1000 list.

ScanSource (NASDAQ: SCSC) announces the retirement of Mike Grainger from its Board of Directors, effective at the next Annual Meeting of Shareholders on January 26, 2023. Grainger has served since 2004, contributing significantly to the company with his extensive knowledge of the distribution industry and strong financial expertise. Following his departure, the Board will have eight members. ScanSource is a hybrid distributor focused on connecting devices to the cloud, offering various solutions through specialized market routes.

ScanSource, Inc. (NASDAQ: SCSC) reported a strong financial performance for the first quarter of fiscal year 2023, ending September 30, 2022. Net sales reached $943.8 million, marking a 10.1% year-over-year increase. Gross profit rose to $113.5 million, up 11.7%, with a gross profit margin of 12.02%. GAAP net income was $24.0 million ($0.94 per share), an 8.9% increase from the prior year. The company affirmed its FY23 guidance, projecting at least 5.5% net sales growth and adjusted EBITDA of at least $174 million, demonstrating robust demand and effective channel partnerships.

ScanSource, Inc. (NASDAQ: SCSC) plans to release its first quarter fiscal year 2023 results for the period ended September 30, 2022, on November 8, 2022, at approximately 8:30 a.m. ET. An earnings conference call will follow at 10:30 a.m. ET the same day, accessible via their Investor Relations website. ScanSource, a leading hybrid distributor, connects devices to the cloud and accelerates growth for partners across diverse technologies, including hardware, software, and cloud services. It was recognized as a 2022 Best Place to Work in South Carolina and ranks #773 on the Fortune 1000.

Content Guru announces a partnership with Intelisys to expand its global reach in cloud contact center solutions. This collaboration will enhance distribution of Content Guru's storm® platform, aimed at large enterprises across the Americas. Martin Taylor, Deputy CEO of Content Guru, emphasizes the importance of this partnership for empowering hybrid workplaces with advanced cloud communications. Intelisys, part of ScanSource, Inc. (NASDAQ: SCSC), is dedicated to supporting telecom sales and IT solution providers. This partnership signifies Content Guru's commitment to growth in the US market.